Full Description
(PART OF BUTTERWORTHS NEW LAW GUIDES)The Proceeds of Crime Act 2002 is a radical new piece of legislation. It strengthens the laws of civil and criminal confiscation and unifies the money laundering provisions dealing with different types of criminal and terrorist funds. The powers of the Act are far-reaching and draconian. They place a duty on all financial institutions to monitor transactions and to disclose pertinent information to the authorities. Failure to report suspicions of crime can result in a term of imprisonment.This clear and practical guide provides authoritative guidance to the new legislation. The full text of the Act is set out with cross references to the narrative guidance. Free access is provided to an associated website containing secondary legislation and other relevant materials.
Contents
"1. Introduction; 2. Asset recovery agency; 3. Confiscation: England and Wales; 4. Confiscation: Scotland; 5. Confiscation: Northern Ireland; 6. Civil recovery of the proceeds etc of unlawful conduct; 7. Revenue functions; 8. Money laundering; 9. Investigations; 10. Insolvency etc; 11. Information; 12. Co-operation; 13. Miscellaneous and general; Appendix 1 - Proceeds of crime act 2002 (with annotations); Appendix 2 - Money Laundering Regulations 1993; Money Laundering Regulations 2001; Council Directive 91/308/EC on prevention of the use of the financial system for the purpose of money laundering"
